Christopher Marr Of CubeSmart Purchases Self Storage Facility From Jeffrey Stein For $31.5M
1880 Northeast 123rd Street
$31,500,000
$266/SF
Building Size
118,046 SF
Asset Type
Self Storage
Closing
Dec 12, 2025
AI
A 118,046-square-foot self-storage facility located at 1880 Northeast 123rd Street in North Miami has been sold for $31.5 million, translating to $267 per square foot. The property, which was built in 2022, features five stories and is situated near the Bal Harbour causeway, operating amid strong regional self-storage demand alongside low vacancy rates.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $31,500,000
- Square Footage: 118,046
- Address: 1880 Northeast 123rd Street
- Market: North Miami
- Buyer: Christopher Marr - CubeSmart
- Seller: Jeffrey Stein - Stein Investment Group
- Price Per Square Foot: $267
Christopher Marr, representing CubeSmart, has acquired the self-storage facility from Jeffrey Stein, who represented Stein Investment Group in the transaction. This deal reflects ongoing investment interest in the self-storage sector within the region.
North Miami Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93